Vanderbilt University Has $1.83 Million Holdings in Agree Realty Corporation $ADC

Vanderbilt University grew its holdings in shares of Agree Realty Corporation (NYSE:ADC) by 11.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,074 shares of the real estate investment trust’s stock after acquiring an additional 2,585 shares during the quarter. Vanderbilt University’s holdings in Agree Realty were worth $1,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in Agree Realty during the 1st quarter valued at approximately $27,000. Farther Finance Advisors LLC lifted its stake in Agree Realty by 408.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 381 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 306 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Agree Realty during the 1st quarter valued at $33,000. Capital Advisors Ltd. LLC increased its position in shares of Agree Realty by 137.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 466 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Agree Realty during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

Insider Activity at Agree Realty

In other Agree Realty news, Director Greg Lehmkuhl purchased 750 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was bought at an average price of $72.84 per share, with a total value of $54,630.00. Following the transaction, the director directly owned 27,684 shares of the company’s stock, valued at approximately $2,016,502.56. This represents a 2.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joey Agree acquired 4,108 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $72.15 per share, with a total value of $296,392.20. Following the completion of the transaction, the chief executive officer owned 633,060 shares in the company, valued at approximately $45,675,279. The trade was a 0.65% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 7,700 shares of company stock valued at $555,926 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ADC shares. Barclays reduced their target price on Agree Realty from $78.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, August 20th. Evercore ISI boosted their price objective on Agree Realty from $83.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. UBS Group upped their target price on Agree Realty from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Mizuho cut their target price on Agree Realty from $78.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Agree Realty in a research report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.58.

Agree Realty Trading Down 1.5%

ADC stock opened at $70.64 on Friday. The company’s 50-day simple moving average is $72.47 and its 200-day simple moving average is $73.93. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.59. Agree Realty Corporation has a 52-week low of $67.58 and a 52-week high of $79.65. The firm has a market cap of $7.82 billion, a P/E ratio of 42.05, a PEG ratio of 2.34 and a beta of 0.55.

Agree Realty (NYSE:ADC) last issued its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.01. Agree Realty had a net margin of 28.16% and a return on equity of 3.47%. The firm had revenue of $175.53 million for the quarter, compared to analyst estimates of $173.95 million. During the same period last year, the company posted $1.04 EPS. Agree Realty’s quarterly revenue was up 15.0% compared to the same quarter last year. Agree Realty has set its FY 2025 guidance at 4.290-4.320 EPS. As a group, equities analysts forecast that Agree Realty Corporation will post 4.27 EPS for the current fiscal year.

Agree Realty Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a $0.256 dividend. This represents a yield of 432.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Agree Realty’s dividend payout ratio (DPR) is currently 182.74%.

About Agree Realty

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.